Miami, known for its vibrant culture and bustling city life, has embraced ride-sharing apps as an essential part of its transportation landscape. With numerous options available, it can be puzzling to decide which one to use.
The growth of ride-sharing apps on every continent has been impressive to say the least. Statista says that the global ride-sharing market should grow at a notable 22.3% CAGR between 2020 to 2027. The global ride-sharing market was valued at $36.4 billion in 2017, by 2025 it is expected to touch $218.1 billion.
In the U.S around 100 million people use taxi apps which is nearly one-third of its population. In this blog, we’ll explore the top ride-sharing apps in Miami, naming their founders, total funding received, business models, unique selling propositions, and finally giving a brief overview of each app along with revenue details.
Top Ride-sharing Apps In Miami
At least 36% of the U.S population have been party to ride-sharing services. This is twice the number of people who used these services in 2017. Uber leads the race in the U.S. ride-share market with a lion’s share of 74% and lagging far behind them is second placed Lyft with a 31.4% share. We bring you the top ride-sharing apps in Miami:
Uber
Founder: Uber was founded by Travis Kalanick and Garrett Camp.
Total Funding: Uber, as a company has raised over $25 billion in funding.
Business Model: Uber operates on a commission-based model, earning a percentage on each ride’s fare.
Unique Selling Proposition: Uber commands the largest network of drivers in Miami, thereby placing it among the top ride-sharing apps in Miami. They offer various ride options that include UberX, UberXL, and Uber Black. Uber’s one-upmanship is their user-friendly app that provides innovative features such as driver preference, call masking, multiple pickups, real-time tracking, etc.
Brief on the app with revenue details: In 2020, Uber reported total revenues of approximately $11.1 billion, highlighting its position as a ride-sharing giant in the industry.
Early this year, Uber’s MAU had risen to 130 million. Uber operates in 72 countries and has successfully completed over 7.6 billion trips. Last year Uber generated nearly $32 billion in net revenue. Uber has recovered despite their business dropping during 2020-Q2. During Q1-2023, Uber generated $31.41 billion gross bookings worldwide.
Lyft
Founder: Lyft was co-founded by Logan Green and John Zimmer.
Total Funding: Lyft has raised over $5.5 billion in funding.
Business Model: Lyft generates revenue through ride commissions, while also offering a subscription service called Lyft Pink.
Unique Selling Proposition: Lyft is known for its friendly and affable drivers. The app also provides various ride options, including Lyft Standard, Lyft XL, and Lyft Lux.
Brief on the app with revenue details: Lyft gives importance to safety and hence provides support for customers who may experience vulnerability or distress while on a ride. To guarantee safety of its clients, Lyft carries out substantial background checks, provides 24/7 customer support, and a rating system for both riders and drivers.
Lyft is among the top ride-sharing apps in Miami. In 2020, Lyft earned around $2.4 billion. Lyft presents services to 51 million MAU. Lyft earns around $2.36 billion annually. Lyft has 26% share in the US ride-hailing market and the quarterly average revenue per Lyft rider is $45.40.
Via
Founder: Via was founded by Daniel Ramot and Oren Shoval.
Total Funding: Via has received over $387 million in funding.
Business Model: Via offers shared rides at a flat rate making rides a cost-effective option for users. It also partners with public transit agencies to provide on-demand shuttle services.
Unique Selling Proposition: Via emphasizes affordable shared rides, reducing traffic congestion and promoting eco-friendly transportation options.
Brief on the app with revenue details: Specific revenue details for Via are not readily available, as the company often partners with public entities to provide services.
Bolt (formerly Taxify)
Founder: Bolt was founded by Markus Villig.
Total Funding: Bolt has raised over $2.2 billion in funding.
Business Model: Bolt operates on a commission-based model, offering competitive pricing to riders and higher earnings to drivers.
Unique Selling Proposition: Bolt is known for its affordability and quick service. It focuses on providing an efficient and cost-effective ride experience.
Brief on the app with revenue details: In three years Bolt scripted history with an amazing rise in its valuation from $250 million to $11 billion. In 2018 Bolt raised $71 million from investors in stages, at valuations ranging from $250 million to $357 million. Bolt reported revenues of approximately €420 million in 2020, highlighting its growth as a ride-sharing platform.
Curb
Founder: Curb is owned by Verifone, a company specializing in electronic payment systems for transportation services.
Total Funding: Curb’s funding details are not publicly disclosed.
Business Model: Curb connects users to licensed taxi drivers, allowing riders to hail a traditional taxi via the app which has placed them among the top ride-sharing apps in Miami.
Unique Selling Proposition: Curb is among successful operators in the taxi segment in the U.S combining convenience of app-based booking with licensed taxi services, ensuring safety and reliability.
Brief on the app with revenue details: Curb is among the emerging taxi aggregators in the U.S with more than 100,000 drivers spread across major metros. Growjo report states, Curb Mobility earns an annual revenue of $12.6 million per annum and revenue per employee is $145,000. That certainly proves Curb has been successful in the taxi market.
Fare for each ride is calculated and a percentage is added that Curb retains as its service fee. Customers are free to tip the driver through the app. Curb is a subsidiary of Verifone, and specific revenue details are not publicly available.
Freebee
Founder: Freebee was founded by Jason Spiegel and Kris Kimball.
Total Funding: Freebee’s funding details are not publicly disclosed.
Business Model: Freebee offers free rides to users within designated service areas, with advertising on the vehicles covering the costs.
Unique Selling Proposition: Freebee provides an eco-friendly and cost-free transportation option for short trips within Miami’s neighbourhoods.
Brief on the app with revenue details: As Freebee offers free rides funded by advertising, traditional revenue figures are not applicable.
Wingz
Founder: Wingz was founded by Christof Baumbach.
Total Funding: Wingz has raised over $33 million in funding.
Business Model: Wingz specializes in pre-scheduled rides to airports and other destinations, with fixed prices for added predictability.
Unique Selling Proposition: Wingz offers a reliable and hassle-free option for airport transportation, with no surprises on fares.
Brief on the app with revenue details: Wingz’s revenue details are not publicly available.
Conclusion: Top Ride-Sharing Apps In Miami
The global ride-sharing market was valued at $76.5 billion in 2020. And by 2028 it is expected to grow to $42.7 billion. This growth is likely to be at a rate of 16.3% CAGR between 2021 and 2028. This ensures that the industry will recover the loss suffered during the COVID-19 pandemic.
The diversity of ride-sharing apps in Miami caters to various preferences and needs, from affordable shared rides to traditional taxis and airport transportation. Whether you prioritise affordability, reliability, or eco-friendliness, there’s a ride-sharing app in Miami that suits your requirements. These apps have reshaped urban transportation, making it more convenient and accessible for residents and visitors alike.
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After an Engineering degree and a Diploma in Management I devoted 16+ years working in the automotive industry. My innate skill and extreme passion in writing, encouraged me to adopt it up as a profession. I have been writing for more than 10+ years in the software industry. The 400+ blogs I published are informative, exhaustive and interesting to a professional and causal reader.
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